COCA-COLA HBC A.G. - Announcement of Related Party Transaction
Coca-Cola HBC AG
Announcement of Related Party Transaction
Zug, Switzerland – 13 December 2019 – Earlier today, Coca-Cola HBC AG ("Coca-Cola HBC") and The Coca-Cola Company ("TCCC") entered into a binding agreement for the contribution of assets relating to the Multon Z.A.O group of companies, an existing joint operation of Coca-Cola HBC and TCCC engaged in the production and distribution of juices in Russia, into a company indirectly owned by Coca-Cola HBC and TCCC, each with a 50% equity interest (the "Transaction").
There is no consideration being paid or received by Coca-Cola HBC as this transaction is a contribution of business assets in exchange for the establishment of an arrangement preserving the respective existing business and commercial interests of the parties, and as such there is no transfer of economic value between Coca-Cola HBC and TCCC. Additionally, exit provisions shall apply to the ongoing relationship between Coca-Cola HBC and TCCC.
The Transaction has been entered into with European Refreshments which is a subsidiary of TCCC a substantial shareholder of Coca-Cola HBC and, as such, the Transaction constitutes a smaller related party transaction for the purposes of LR 11.1.10R. Coca-Cola HBC's sponsor has provided written confirmation that the arrangements are fair and reasonable as far as Coca-Cola HBC's shareholders are concerned.
Enquiries
Coca‑Cola HBC Group
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Investors and Analysts: Joanna Kennedy Investor Relations Director |
Tel: +44 20 37 444 230 | |||
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| Carla Fabiano Investor Relations Manager | Tel: +44 20 37 444 231 | |||
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| David Hart Group External Communication Director
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International media contact: Teneo Rob Morgan Tom Davies | Tel: +44 7557 413 275 | |||
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Greek media contact: V+O Communications Argyro Oikonomou | Tel: +30 211 7501219 | |||
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About Coca‑Cola HBC
Coca-Cola HBC is a leading bottler of The Coca-Cola Company with an annual sales volume of more than 2 billion unit cases. It has a broad geographic footprint with operations in 28 countries serving a population of more than 600 million people. Coca-Cola HBC offers a diverse range of primarily non-alcoholic ready-to-drink beverages in the sparkling, juice, water, sport, energy, tea and coffee categories. Coca-Cola HBC is committed to promoting sustainable development in order to create value for its business and for society. This includes providing products that meet the beverage needs of consumers, fostering an open and inclusive work environment, conducting its business in ways that protect and preserve the environment and contribute to the socio-economic development of the local communities. Coca-Cola HBC is ranked among the top sustainability performers in ESG benchmarks such as the Dow Jones Sustainability Indices, CDP, MSCI ESG and FTSE4Good, among others.
Coca-Cola HBC has a premium listing on the London Stock Exchange (LSE: CCH) and its shares are listed on the Athens Exchange (ATHEX: EEE). For more information, please visit http://coca-colahellenic.com